What is Wealth?
In order to achieve wealth, you have to understand what it is. If you’re like me, you grew up thinking wealth was only for the Caucasian people or those who were celebrities that had lots of money. It wasn’t until I lived life and realized wealth actually has nothing to do with money, at least not for you. Myron Golden said it best on his youtube channel the definition of wealth and I truly agree with the definition he implied. Myron Golden stated that the amount of cash flow and cash accumulation (assets) don’t determine how wealthy someone is; wealth is YOUR ability to create value for someone other than yourself, and when you can do that then you’re wealthy. WOW, powerful isn’t it?!
In my words, wealth is much bigger than YOU.
In fact, in the bible in Genesis, God promised to Abraham AND his generations to come will be fruitful, and will multiply him exceedingly. God wants to bless us in numbers, but he wants us to do good by our increased blessings by helping others and pass down to our children and children’s children as he stated in Proverbs 13:22.
So how can a hardworking parent like me who may have a limited budget create wealth?
How to Create Generational Wealth?
The answer is to ensure EVERYONE in your family has life insurance. Every adult should consider term life insurance and every child, the parent should start an IUL (indexed universal life policy) for their child(ren). This allows for assets to be left for your children, family, and generations to come when you are no longer present in the physical. This is your ability to create value for someone (in this case your family) other than yourself thus creating generational wealth.
(Note: The hyperlinks will direct you to my other blog post that discuss term life insurance and IULs in more detailed)
Let’s Engage
What excites you about creating generational wealth?
Conclusion:
Let us pray: Lord thank you for bringing this amazing mother on this blog post. I pray that she receives overflow in her finances and that of her family. She is plentiful in your name and her families for generations to come will be multiplied exceedingly. This is her season.
In Jesus name, Amen!
Contact Information That May Interest You
I would love to continue our conversation. If you’re up to it, I invite you to chat with me further and let’s talk about what’s important to you in creating generational wealth.
Booking link: https://calendly.com/speakgenwealth/45min
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My name is “Kim”berly Jones, a financial coach for mothers who specializes in indexed universal life, term life insurance, and annuities. Learn more about my brand’s mission, vision, and values at: www.speakgenwealth.com
